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Purchase of property

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(Querist)
27 January 2011 Hello Sir,

My quiery is one of our client has purchased a property in the name of his son without having a knowledge of gift deed and that to in cash. now what can be Consequences of income tax?? and as per which sec??? does it attach a sec 281?
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CA Shailesh Kumar Bhagat

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CA Shailesh Kumar Bhagat (Expert)
27 January 2011 Purchasing of property in the name of relative is not under gift tax.
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Guest (Expert)
27 January 2011 It can be attached u/s 281 if it can be held to be a benami property.
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Komal

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Komal (Querist)
28 January 2011 Thank You v.much sir. Thanx for the support.
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